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Sunday , February 19 2017
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Belgium & UAE discuss ways to strengthen trade ties

Belgium & UAE discuss ways to strengthen trade ties

ABU DHABI: Belgian secretary of state for foreign trade Pieter De Crem and UAE’s minister of economy Sultan bin Saeed Al Mansouri held a round of discussions in the UAE to find ways to boost cooperation between the countries. The focus was on small and medium-sized enterprises and innovation. Al Mansouri welcomed the progressive ties between the UAE and Belgium, ... Read More »

Belgian Sonaca Group acquires LMI Aerospace, entered merger agreement

Belgian Sonaca Group acquires LMI Aerospace, entered merger agreement

BRUSSELS: LMI Aerospace, a St. Charles-based aerospace components manufacturer, entered into a merger agreement to be acquired by Sonaca Group of Belgium. According to agreement, LMI shareholders will receive $14 per share in an all-cash transaction, the company said. The offer represents a 52 percent premium over LMI’s closing share price Thursday (Feb 16) of $9.19 per share. After the ... Read More »

EU, US trade drops for first time since 2013

BELGIUM

BRUSSELS: Trade between the European Union and the United States fell last year for the first time since 2013, estimates of the EU statistics agency showed on Wednesday (15/02), in line with a general drop in global trade. The data come as talks for an ambitious EU-US trade deal have been frozen and calls for protectionist measures are growing louder, ... Read More »

Electrabel to install more wind turbines

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Engie Electrabel is reviewing its forecasts for the increase in wind turbines. By 2020, the electricity generator is anticipating a capacity of 500 MW in the country (onshore). Up until now, the company was only banking upon a capacity of 400 MW. The group will provide a capital injection of some 300 million euros for this market segment. The initial ... Read More »

JLG improves operating income in Q1

BELGIUM

BRUSSELS: JLG, the access equipment segment of Oshkosh Corp., posted an operating income increase of 19.2 percent to $24.4 million, or 5 percent of sales, in the fiscal first quarter of 2017, compared to $20.4 million or 3.9 percent of sales in the first quarter of fiscal 2016. JLG reported net sales of $489.2 million in the first quarter of ... Read More »

German vehicle carrier operator launches new Ireland, Belgium service

BELGIUM

BRUSSELS: Should you have seen a red-painted high-sided box shaped ship off the Irish east coast in recent weeks, it was likely to have been a vehicle-carrier, writes Jehan Ashmore. The ship been the 750 unit vehicle carrier Weser Highway which last month made a first call to Dublin Port from Zeebrugge, Belgium. She is operating a new Ireland-Belgium service ... Read More »

Gazprom supply Jitters Roil gas market facing return of freeze

BELGIUM

BRUSSELS: European gas traders are once again focusing on exports from its biggest supplier as freezing weather is set to return to the region. Moscow-based Gazprom PJSC said on Wednesday that it reduced shipments through the Opal pipeline in Germany, which delivered about 15 percent of Russia’s gas exports outside the former Soviet Union last month, following a legal challenge ... Read More »

Port of Antwerp lands new banana contract

BELGIUM

BRUSSELS: The CMA CGM vessel Pointe des Colibris is called at the Belgian New Fruit Wharf (BNFW) terminal in Antwerp on Wednesday 1 February carrying among other things bananas from Suriname. These will be distributed via the port of Antwerp to the local market and to surrounding countries. The owner of the bananas is FAI, fruit partner of Greenyard, the ... Read More »

Global weakness hits Antwerp diamond trade

BELGIUM

BRUSSELS: Belgium’s polished diamond trade slumped last year due to an economic slowdown in India and China, the Antwerp World Diamond Centre (AWDC) reported. Polished exports slid 10 percent to $11.8 billion, while imports fell by the same margin to $11.39 billion, the AWDC said. Net polished exports, representing exports minus imports, climbed 2.7 percent to $410.8 million. By volume, ... Read More »

Cat revenues shrink 30% in two years

BELGIUM

BRUSSELS: Caterpillar saw its global revenues nosedive 18% in 2016 and it made a loss for the year of $67m. Sales and revenues for the year were $38.5bn, compared to $47.0bn in 2015 and $55.2bn in 2014 – a fall of more than 30% in just two years. Caterpillar’s revenues peaked in 2012 at $65.9bn but have been falling since. ... Read More »

Diaspora in Belgium protest against “illegal” shipment of marine oil

BELGIUM

BRUSSEL: The Sahrawi Diaspora in Belgium organized a protest rally at the port of Gand (northwest of Brussels) where the key Bay ship docked after unloading at the port of Fecamp (France) marine oil imported “illegally” from Western Sahara. The participants in the rally chanted slogans denouncing the “plundering” of Western Sahara’s natural resources and carried banners demanding the respect ... Read More »

Caterpillar reports $38.5b sales, revenue for 2016

BELGIUM

BRUSSELS: Caterpillar Inc. has reported an 18 percent drop in sales and revenues for all of 2016 at $38.5 billion, with a per share loss of $0.11 for the year. That compares to 2015, when the company reported full-year sales and revenue of $47.0 billion and a profit per share of $4.18. The loss, Caterpillar says, is due to “three ... Read More »

Eimskip acquires Mareco in Belgium

BELGIUM

BRUSSELS: Eimskip has strengthened its position in worldwide reefer logistics services by acquiring 80% of the forwarding company Mareco N.V. The company was founded in 2002 and its headquarters are located in Antwerp,Belgium. The current management team will continue to own a 20% share in the company and will manage its operations. Mareco employs 26 people in two locations, 22 ... Read More »

Belgium’s Antwerp becomes main gateway for cocaine traffic to Europe

belgium

BRUSSELS: Belgium’s port of Antwerp has dethroned Rotterdam and Hamburg to become the main gateway for Europe-bound cocaine, Belgian media reported Wednesday, citing customs data. A record 30 tons of Colombian drug was seized in 2016 by Belgian customs services, almost double of what was captured last year, La Derniere Heure newspaper reported. The outlet said seized cocaine was but ... Read More »

Belgium announces more economic missions to Nigeria

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BRUSSELS: The Belgian Ambassador to Nigeria, Mr Stephene De Loecker, on Monday announced his government’s plans to facilitate more Belgian economic missions into Nigeria this year and in the years ahead. Loecker, who made the announcement to the News Agency of Nigeria (NAN) in Lagos, said that more Belgian companies should  be expected to lead different economic missions to Nigeria ... Read More »

10 Belgian startups poised for growth in 2017

BELGIUM

BRUSSELS: The 2016 fiscal year was a busy year for Moovly with a number of key strategic objectives and achievements. In addition to funding and technology advances, user activity levels on the Moovly platform increased significantly in 2016 with the number of logins up by 343% and the number of Moovs (videos) up by 266% as compared to the 2015 ... Read More »

Belgium Midstream Oil, gas industry forecasts for LNG

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BRUSSELS: Market Forecasts for Liquefied Natural Gas (LNG), Oil Storage, Pipelines and Underground Gas Storage” is a comprehensive report on midstream oil and gas industry in Belgium. The report provides oil and gas consumption, exports and imports from 2000 to 2020. Further, the report provides details such as name, type, operational status and operator for all active and planned (new ... Read More »

Belgium, Germany growing markets for Irish sheepmeat

bekgium

BRUSSELS: The quantity of Irish sheepmeat exported to both Germany and Belgium posted increases during 2016, figures from Bord Bia show. The Bord Bia Export Performance and Prospects 2016-2017 outlook and review states that these two countries, along with Sweden and Denmark, became key growth markets for Irish sheepmeat in 2016. Shipments to Germany showed a rise of 9% to ... Read More »

Belgapom comments on Belgium potato trade in 2017

BELGIUM

BRUSSELS: The potato crop in Belgium was not as expected, due to weather conditions during the growing season, but processors opted for along term vision, with a solid contract basis, available storage and scheduled purchases on the market, says RomainCools, Secretary General Belgapom, for PotatoBusiness.com. The free potato prices have been high during the whole season, which has affected the ... Read More »

Icelandic Group to sell Belgian processor

belgium

BRUSSELS: Board of  the Icelandic Group  which owns Icelandic Seachill in the UK has decided to initiate a public sale process for its Belgian operations, Gadus. Gadus specialises in the production and sale of fresh seafood to retailers and wholesalers. The company´s history spans over 25 years and it is the second largest fish processor in the Belgian fresh fish ... Read More »